ARGUMENTS that actions to fight climate change are too costly have been dealt a blow by new research, which shows that the economic damage caused by climate change is comparable to that of extended warfare. This unwelcome but inescapable reality must be used to give direction to government decisions on climate adaptation and mitigation measures.
With many climate scientists now predicting a 3 C rise in global average temperatures by the end of the century, a scenario that is debatable but becoming increasingly plausible as temperature records are shattered with each passing month, 'precipitous declines in output, capital and consumption that exceed 50 percent by 2100' would result, the paper states.
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